Sanwo-Olu signs VAT bill into law

The Lagos State Governor Babajide Sanwo-Olu has signed into law the state Value Added Tax (VAT) bill passed by the state House of Assembly.

The state Commissioner of Information and Strategy Gbenga Omotoso, made this known in a statement issued on Friday.

The commissioner said the governor signed the bill Friday morning after returning from an official trip to Abuja.

The Governor signed the “bill for a law to impose and charge VAT on certain goods and services” at about 11.45am today, after returning from an official trip to Abuja. By this act, the Bill has now become a Law.

Lagos is the renowned commercial capital of Nigeria and the signing of the bill into law is viewed as significant.

Sanwo-Olu signed the law on a day the Court of Appeal has urged Rivers State and FIRS to maintain status-quo on a controversial issue of VAT.